I welcome the Union Budget , 2023, that is both balanced and target driven . With increased emphasis on education, health, infrastructure development, employment generation in both rural and urban areas, skill development besides promotion of digital economy through “Make AI in India” aiming to set up three specialized  AI Centres in educational institutes  enlisting private participation , National Data Governance Policy etc. , green growth , strengthening railway  connectivity , the Union Budget, 2023-24  will ensure  inclusive growth  through Saptarshi-7 priorities.

I strongly believe that the increased Capital investment outlay  by 33.4% to 10 lakh crore, the highest ever outlay of Rs. 2.4 lakh crore for the Railways , identification of 100 infrastructure projects  for end-to-end connectivity for ports ,coal, steel, fertilizer sectors will  give fillip to the  industrial development of the country . Besides,  continuation of the provision for 50-year Interest Free Loans to States to be spent on capital expenditures , focus being on infrastructures, is expected to be a  game changer in the whole infrastructure development sector to the benefit not only of  the steel industry alone but also the industry across sectors as a whole.         

Moreover, simplifying tax benefits for industry in terms of enhanced limits for micro enterprises and professionals to avail benefits of presumptive taxation as well as provision for allowing deduction of payments made to MSMEs only when payment is made, and benefits provided for the start-ups will accelerate country’s economic growth.

In fine, it’s a people-centric budget for the improvement of the quality of life of all sections of the people. We wholeheartedly  appreciate this Union Budget, 2023-24.